Caterpillar (CAT) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Caterpillar (NYSE: CAT) stock has seen a rise of 7% in a week, while its peer, Deere stock, hasn't seen any change. The rise for CAT stock can be attributed to its recently reported Q2 results, with revenues slightly below but earnings above the consensus as well as our estimates.
Caterpillar's sales are declining, but its profits are growing. Caterpillar's price realization has been exceptional this year.
Caterpillar (CAT) delivered record earnings in Q2 despite lower volumes impacting revenues. This and a projection of higher earnings for 2024 have boosted share prices.
Caterpillar has outperformed expectations on earnings and margins this year, even as it lowered sales guidance. Much of the profits that are better than expected come from increased prices.
Markets are in turmoil as the selloff in mega-cap technology stocks that began in July accelerates. On Aug. 5, the mega-cap tech companies known as the “Magnificent Seven,” generally considered among the best stocks to buy, lost a combined $1 trillion of value amid a global stock market rout.
Several analysts upped their price targets on the shares. The heavy machinery specialist is winning praise for its ability to earn a profit in challenging circumstances.
Caterpillar Inc. CAT shares are climbing on Wednesday, after the company reported strong second-quarter results.
U.S. stocks traded higher toward the end of trading, with the S&P 500 gaining more than 2% on Tuesday.
Caterpillar, Inc. CAT shares are trading higher today after the company reported second-quarter FY24 results. Goldman Sachs analyst Jerry Revich maintained a Buy rating with a price target of $408.
Management lowered its full-year sales guidance but increased profit guidance. The company's end markets are slowing, but Caterpillar's higher margin performance appears to be sticky.
Caterpillar's (CAT) second-quarter 2024 earnings improve year over year, buoyed by the upbeat performance of the Energy & Transportation segment, offsetting weaker performance in other segments.